Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    698 Enterprise Dr Houma, LA 70360

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $250,000

    0.75 acre commercial tract in fast-growing Houma corridor.

    Lot size:
    0.75 Acres

    Property Features for 698 Enterprise Dr

    General Information

    Lot size
    0.75 Acres

    We can help!

    Listing Contact
    Mike Heck
    Mike Heck
    Source: Moodyscre

    Listing Agent: Mike Heck

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Land in Growing Corridor

    This 0.75-acre commercial tract is located on Enterprise Drive, across the street from the future Terrebonne General Health Systems Healthy Lifestyles Center. Situated in a fast-growing corridor in west Houma, the property is surrounded by new apartment complexes and a large new residential subdivision. The location is suitable for retail, professional offices, restaurants, and more. The lot is zoned C-2, features high elevations, and is not in a flood zone. It is positioned between heavily traveled Martin Luther King Boulevard and Highway 311, just minutes from US 90 and the future I-49.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houma
    County
    Terrebonne
    State
    Louisiana
    Longitude
    -90.755204
    Latitude
    29.607711

    Nearby Similar for Sale

    • $2,300,000
      10,715 SF

      Houma Office Building with Updates

      Updated office building with multiple offices, conference rooms, and guest quarters.
      4084 Highway 311, Houma, LA 70360
      View Details
    • $325,000
      3,361 SF

      Houma Commercial Property on Highway

      Warehouse/office with apartment, covered storage, and ample parking.
      1500 Grand Caillou Rd, Houma, LA 70363
      View Details
    • $425,000
      3,600 SF

      Multi-Use Property with Income Stream

      Commercial/residential investment property with homes, industrial building, and development potential.
      1118 Grand Caillou Rd, Houma, LA 70363
      View Details
    • $999,999
      12,557 SF

      Waterfront Commercial Building in Houma

      Well-kept commercial building with waterfront access and many amenities.
      1711 Dunn St, Houma, LA 70360
      View Details
    • New
      $275,000
      2,241 SF

      Charming Multifamily Home in Houma

      Well-maintained multifamily property in downtown Houma with two separate units.
      813 Wood St, Houma, LA 70360
      View Details
    • $520,000
      4,849 SF

      Renovated Office Building in Houma

      Renovated office building with multiple suites and convenient street parking.
      7720 Main St, Houma, LA 70360
      View Details
    • $725,000
      4,892 SF

      Houma Medical Office Building For Sale

      Two-story medical office building near Terrebonne General Regional Medical Center.
      210 New Orleans Blvd, Houma, LA 70360
      View Details
    • $400,000
      3,227 SF

      Houma Multifamily Investment Opportunity

      Multifamily property with duplex and two homes on 0.71 acres.
      106 Abc & D Country Est Dr, Houma, LA 70364
      View Details
    • $521,000
      Pending

      Houma Commercial Property on Large Lot

      Versatile commercial property on 1.5 acres in Houma, Louisiana.
      2349 Coteau Rd, Houma, LA 70364
      View Details
    • $659,900
      4,951 SF

      Modern Fourplex in Houma, LA

      Income-producing fourplex with Airbnb potential, fully furnished and upgraded.
      151 Dixie Ave, Houma, LA 70363
      View Details
    • $389,999
      2,329 SF

      Established Commercial Building on Enterprise Drive

      Well-maintained commercial building with parking and potential for additional investment.
      186 Enterprise Dr, Houma, LA 70360
      View Details
    • $250,000
      3,929 SF

      Spacious Office Building in Houma

      Corner lot office building with renovation potential near Downtown Houma.
      7552 Main St, Houma, LA 70360
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.75 acre commercial tract in fast-growing Houma corridor.
    Where is this commercial land located?
    The property is located at 698 Enterprise Dr Houma, LA.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Prime commercial location on Enterprise Drive across from future Terrebonne General Health Systems (Healthy Lifestyles Center).; - High-growth area in west Houma with new apartments and residential subdivisions.; - Zoned C-2, suitable for retail, professional offices, restaurants, and more.
    (985) 688-8787
    Request Owner's contact information
    698 Enterprise Dr Houma, LA 70360
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    698 Enterprise Dr
    Houma, LA 70360
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    698 Enterprise Dr Houma, LA 70360
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mike Heck
    Mike Heck
    (985) 688-8787
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.